Savings checker



Sept 14, 1943- J. K. STEUART ET Al.

SAVINGS CHECKER Filed July 29, 1942 James 5 TEU/1e 7'. ,42 Th2/.e W/VoEGn/v, Je

@htm/man3 UNITED STATE ally what the value is at a glance.

Patented Sept. 14,' 1943 sAvlNGs CHECKER James K. Steuart and 'Arthur W. Morgan, Jrgr Baltimore, Mill.Y

Application July v29, 1942,-seria`1N0. 452,75615;

g2 claims. (o1. 28a-59)' n i ,n

" 'i and mailing, with anet". resultthat` makesr the This invention refers to'mechanical or lphysical checkers, and more particularly to the type suitable for savings accounts and the like. -It has amongst its objects to provide an arrange,- mentrfor recording the Value of accounts without employing. written figures applied manually;

' to have the arrangement sustain itself automati cally; `to have it proof against fraudulentcincreases 'surreptitiouslyY incorporated into the records. Another object 'is to provide in a single recorder or checker of this nature, the capacity of varying its value according to predetermined allotments of time and in such proportions a'srthe arbitrary, .monetary requirements of the accounts are based on. A further object is to eliminate the greater part of the visual amountI of writing-posting and clerical. work usually necessary to audit the account and pro-v vide the owner thereoffwith a Written account of same; by providing a mechanical receipt in connection with the account that will automatically` establish the value of 4same on a recorder or checker that will designate clearly and visu- A stillA further object is to give the recorder an amplified use capable of qualifying -for anr intrinsically valuable negotiable instrument; use as a check havexpense, worry,",effort,petc., reduce the financial values and practical Aresults in handling the 'accounts,k to 'aminimum, This invention elimi-A nates ,a ,substantiall proportion of the convenev tional operations used in handlingaccounts 'o fr this nature,v 'For instance thiscollating andnumerica1,arranging;jof details of the account is avoided, together' lwtl'l incidental eiTorts-re-l quired for postingthe ledger, addressing, mail i ing costs, vand use of-s'pecial checks and therwork entailed in writing them up.V Bookkeeping kWork is practicallyeliminated, personnel requirements are lconsiderable less, materials andsupplies are reduced to a minimum, anda moreA lsatisfactory system :is providedbytheinvention y-The ar rangementconsistsin thevuse ofa checker, so-

ing a positive face value,zrather than an arbiy trary written one; and to have provision ar ranged for flexibly adjusting the value in avery denilte,` and physicological valuable manner; still another object is to incorporate the intangible ingredientof confidence in the-valuelof the article to an extent not inculcated in other 11egotiable instruments. Also it is an object to pro-- vide a recorder that may be correctly readable and usable by those who are unable to read or areincapacitated optically. Also to have a type of practical negotiable instrument or' article ofV the check nature, that will not require the use of a check-protector marking, etc. Other objects will become apparent .as the `invention is more fully set forth.` f,

There have been many inducementsto those handling the bank or fiduciary accounts of individuals and parties to reduce or eliminate the time, labor, cost, rspace andmaterial requiredforE handling accounts, especially in banks in their- Christmas savings accounts and those of a .si1ni,`V Coupon books and coupons'` have;

ledger; making up special checks; addressing' called, that forms theibasis Vof a. receipt and identificationof account; stamps, markers or other mechanical articles are bought and ap-7 plied properly to the checker and securely attached thereto, so as to give a visual and physicalfindication of the totalvalue of the checker plus thevalue of the stamps thereon. The incidental detailsand characteristics of the stamps indicate the passent4 and @future value thereof, and enable the whole to be usedL as a negotiable instrument'available for very flexible commer cial use Its scope of use isconsiderably increased by the -fact,f;t hat it is available for use with persons having pooreyesight as Athereis la double indication -forphysical'l examination of the device by touch available, in addition to visual appreciation.

.- yIn the drawing, VAwhich shows. a form of this:`

invention t Figure l is a View in perspective of ya mechanr` ical recorder embodying this invention, A

Figure k2 is a detail ofgthe stamp or mechani-r cal indicatorrmarker usedon the recorder shown in Figure 1, f

Figure'- 3 is a side elevationvoiFigure `1, taken'` along line 3--'3 insection, and

Figure 4 is' a detail showing aiportionof thel recorderr in detail and the effect of the use'v of stamps or indicator markers thereon.-

Similar reference 1 characters .refer to similar partsl throughout the drawing.

mechanic'al account' checker.

; the identification portion 2,2, andthestamp and 2.; endorsement section 222. The checker and stub are each provided with lines 4 and 5 on which are placed the owners name and address respectively. The serial number 6 is applied to the portion 22 and also stub 2 for identication purposes. The numeral 1 designates the class of account. In this instanceit is for the use with a twenty-'rive cent (25 cent) denomination savings marker-stamps. The checker has the name of the bank or organization 8 issuing same, -to` gether with any other connection such as the American Bankers Association (A. B. A.) transit numbers indicated at 9 and l0, for identication purposes that may be utilized. The checker lalso has marked or printed on its face, the total established monetary value l'l, which can be ace quired by said checker, when completely assembled with markers and iilled-in `according to' regulations, inaugurated for its use. An ocers name or signature, authorized by the issuing bank -or institution :is subscribed to on a line L2. The'face or Ifront 22| of the ichecker is provided witha Vser-ies ofllines 2.3 Ymarked into .blocks il3 sufficient in number to correspond with the quantity of saving units determined .on for that :spe-1 cic account.V Each block has -a printed designation llztotaling the numberand financial value` oi markers 115i already attached to .the checkerv atvany time selected. Theinancial or cash value withits corresponding :arrow -lshov1s the existingv value @of the savings checker up `to and includin'gfthelastrnarker Yplaced thereon. The first or f'starting block is 'shown at I5,.;and'is prefer-ably followed in `conventional alphabetical or other sequence to show continuity in marker placement throughout the recorder. Themarker l'l may 'beinitialed yat "I8 or finger printed, lor otherwise sealed or mutilated bythe purchaser to prevent `their unauthorized use .by .fothersl Each marker has a transit or American Bankers Association :or (A. B.-A.)=nun1ber I'B and :2D for additional identiicationpurposes and Such 'markers are intended to 'be placed on checkers ba'r-. ing the Same 'transit numbers as 9 andfl'f they are to be negotiated. VThe' markers Hoare preferably of the "form indicated to 'dierentiate 'their' construction from that of 4a. r"conven-V tional stainp 'The cheokeris provided vwith smallper'lforations 25. through the cen'tralportion of -each block lI3 and the lines 2:3 'are notched at 26, `along the -"edges of the checker'V to dehitly-estaolish their locations physically; The purpose of the perforation is to fgivefvisual or physical evidence of the use of-afm'arker thereon, and also to Aenable an examination .to be made of same by microscope, etc., if there isfa. question as to :the marker being a fraudulent article or forgery. This would'be diiicultif the marker-could be 'examined 'on one side (only. Incase of paper or the like, theperforatifons permit the examination of the markerwith on all sides `and `through lit. The formt'of Lthe marker may be varied to suit dierent f'p'eriods ofjtime and `'thus `identify its Avalue from lan interest lpoint of view, even lif misplaced it also enables 'the checker to .indicate the value from the back, byfreasonfof .the banked-perforations closing off the light therethrough.. trhas other 'advantages also. The .markers afterv placenient cnfthe checker 'projectfsufciently etherefrom to fo'rm a physical 4difference that can .be recognized by touch, and inform vthe observer.

as to the value lo'f lthe checkeratthe moment.v

The materials of fthe varticles described are preferably E4thos'elthlat can be conveniently handled. a

In the use of the device. The twenty-five (25) cent class savings account type of recorder is employed as an example. This procedure is preferably followed. The subscriber buys the checker for iifty (50) cents. His name and address is then placed on lines 4 and 5 on both the portion 22 and stub 2. A properly authorized oiicer connected with the issuing institution or Vparty attaches signature or ,seal .to line l2. One twenty-ahve (25D ...cent marker .stamp rl'l' of suitable shape or form is attached to space i6, and the remaining twenty-five cents is credited by the issuing party as a token or handling charge in Ltheevent the savings checker is not com- `pletely ,assembled withmarkers or lled in With- ',the prescribed time.

Ater the marker I1 is placed and attached on block or space I6, the

vstub '2 and recorder portions 22 and 222 are detaohedfrom each other, the bank or issuing institution or party holds the stub and the owner of '.the account holrls'the savings-portions 22and 2.22. He .fattaimes Seach Vtwenty-live (.25) `rcentr'riarker ltosa blockl l:ashe {purchases/same. This 'augmente fthe walue lof,A the checker-at twenty-,rive vQ25) cents 'zper fmarker, .in proportion to the .number of markers attached. The tramiitv ing .toithe adopted rules. If thetransiitgnmnbers on .al1-.ofthe markers do not coincide with the transit Xnumber/on .the savings checker, then the checker can ronly be'cashed after-maturity dateat ythe ,bank Lor other place designated 1.by the issuer. Y. ,f i

.While but one tormdofcthe invention is indicated` ,in the'zdrawing, vl:it is.' not fclesilted .to `limit this .application for 4'patent gto thisgparticular form, or any :other way, otherwise than flimit'ed by the scopeof fthe '.application, :as 4it `.is appreciated 'that `'other forms and 'constructions could be used `that would employ the same prinf eiples-.and vcomewvitliinthe -sCQDe fof the appended 'Having A'thus :described the :.Einvention what .is claimed is: n

-1. Ache'cker of :the class :described comprisinga Iform having 41narlkings.thereon dividing same into appropriately Illesi'gned ispaces, :endorsement lines- S'anfd identicati'on filata, .said lforro .being arranged `'to fhave .monetary markers :attached thereto Land 'hai/'jing holes-therethrough covered thereby, Isaid form 'havihg-iftsfedges punched lout border :of saine to ivis'ually emphasize 1 their :location and 'positiony on the 'form.

2. A checker df che dass ldescnbedlcompnsmga -`rectangular form igline' markngsthereon dividing same in'to --lappropriately "designated spaces, endorsement; =lines andidentication'data, said `'form being `"arranged to have monetaryreceiptithereor. -r v- FK. rsirnonn'n ARTHUR W. mortem, sa. 

